Wage, Budget Freezes Possible as Harvard Looks to Spend Less
Even the world’s richest university is feeling the pinch from the economic downturn.
Harvard’s president, Drew Faust, said last week that the university is looking for ways to reduce spending across the campus, raising the specter of cuts to programs and compensation, as Harvard’s endowment plummets. It is also assessing all aspects of its sweeping plan to expand across the Charles River in Allston, she said.
“We must recognize that Harvard is not invulnerable to the seismic financial shocks in the larger world,” Faust wrote in an e-mail to faculty, staff, and students.in The Tech